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Test Bank for Cost Management Measuring, Monitoring, and Motivating Performance, 3rd Canadian Edition, Leslie G. Eldenburg, Susan K. Wolcott, Liang-Hsuan Chen, Gail Cook $17.99   Add to cart
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Test Bank for Cost Management Measuring, Monitoring, and Motivating Performance, 3rd Canadian Edition, Leslie G. Eldenburg, Susan K. Wolcott, Liang-Hsuan Chen, Gail Cook
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Test Bank for Cost Management Measuring, Monitoring, and Motivating Performance, 3rd Canadian Edition, Leslie G. Eldenburg, Susan K. Wolcott, Liang-Hsuan Chen, Gail Cook

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  • April 11, 2023
  • 79
  • 2022/2023
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Copyright © 2016 John Wiley & Sons Canada, Ltd. Una uthorized copying, distribution, or transmission of this page is strictly prohibited. Susan K. Wolcott GRIZLI777 [Company address] TEST BANK FOR COST MANAGEMENT MEASURING, MONITORING, AND MOTIVATING PERFORMANCE, 3RD CANADIAN EDITION, LESLIE G. ELDENBURG, SUSAN K. WOLCOTT, LIANG -HSUAN CHEN, GAIL COOK Cost Concepts, Behaviour, and Estimation 2 - 1 Copyright © 2016 John Wiley & Sons Canada, Ltd. Una uthorized copying, distribution, or transmission of this page is strictly prohibited. CHAPTER 2 Cost Concepts, Behaviour, and Estimation CHAPTER LEARNING OBJECTIVES 1. Explain cost concepts and cost terms. 2. Describe the different types of cost behaviour. 3. Describe cost estimation techniques. 4. Apply cost estimation techniques to determine futur e costs. 5. Utilize regression analysis in cost estimation. 6. Appreciate the uses and limitations of cost estima tes. 2 - 2 Test Bank for Cost Management, Third Canadian Edition Copyright © 2016 John Wiley & Sons Canada, Ltd. Una uthorized copying, distribution, or transmission of this page is strictly prohibited. TRUE-FALSE STATEMENTS 1. Steel used in the production of automobiles woul d generally be classified as a direct cost. Answer: True Difficulty: Easy Learning Objective: Explain the cost concept and co st terms. CPA: Management Accounting Bloomcode: Knowledge 2. Traceability can be used as a criterion to diffe rentiate direct and indirect costs. Answer: True Difficulty: Easy Learning Objective: Explain the cost concept and co st terms. CPA: Management Accounting Bloomcode: Knowledge 3. Textbook costs are an opportunity cost of earnin g a college degree. Answer: False Difficulty: Easy Learning Objective: Explain the cost concept and co st terms. CPA: Management Accounting Bloomcode: Knowledge 4. Salaries and wages you could earn while in colle ge constitute a sunk cost. Answer: False Difficulty: Easy Learning Objective: Explain the cost concept and co st terms. CPA: Management Accounting Bloomcode: Knowledge 5. The learning curve refers to declines in the cos t of materials as production volume increases. Answer: False Difficulty: Easy Learning Objective: Describe the different types of cost behaviour. CPA: Management Accounting Cost Concepts, Behaviour, and Estimation 2 - 3 Copyright © 2016 John Wiley & Sons Canada, Ltd. Una uthorized copying, distribution, or transmission of this page is strictly prohibited. Bloomcode: Knowledge 6. The learning curve refers to increases in sunk c osts as production volume decreases. Answer: False Difficulty: Easy Learning Objective: Describe the different types of cost behaviour. CPA: Management Accounting Bloomcode: Knowledge 7. A new product’s learning curve rate can be expre ssed as (direct material cost/total cost). Answer: False Difficulty: Easy Learning Objective: Describe the different types of cost behaviour. CPA: Management Accounting Bloomcode: Knowledge 8. Learning curves lead to greater productivity ove r time. Answer: True Difficulty: Easy Learning Objective: Describe the different types of cost behaviour. CPA: Management Accounting Bloomcode: Knowledge 9. Past costs are irrelevant for decision-making an d possibly relevant for predicting future costs. Answer: True Difficulty: Easy Learning Objective: Describe cost estimation techni ques. CPA: Management Accounting Bloomcode: Comprehension 10. Past costs are relevant for decision-making, bu t irrelevant for predicting future costs. Answer: False Difficulty: Easy Learning Objective: Describe cost estimation techni ques. CPA: Management Accounting Bloomcode: Comprehension

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